Salford owners claim new funding 'within 12 days'

Salford Red Devils' ownership group say they have secured new funding to settle outstanding debts and clear a winding-up petition against them.

The club was granted a third adjournment to a winding-up order on Wednesday so it could "secure necessary funds" as they owe an outstanding tax bill to His Majesty's Revenue and Customs.

Following the hearing, the club said new funding is "expected to be received within the next 12 days", allowing them to settle debts with creditors and clear the balance with HMRC.

"While winding up may have presented a simpler financial solution, it would have come at a significant cost to the local businesses, many of which are owned and operated by our loyal supporters, who have stood by us through challenging times," the club statement added., external

"We have chosen the more difficult path to protect these vital pillars of our community, ensuring they can continue to trade and thrive alongside us."

A turbulent campaign for Salford resulted in relegation from Super League as a result of the end-of-season grading system, with Championship side Bradford Bulls taking their place.

Late wage payments and a mass player exodus overshadowed the campaign while, on the field, patchwork teams filled with youth players were frequently on the receiving end of heavy defeats.

"This decision secures the future of our 152-year-old institution, safeguards the community we proudly serve, strengthens our ability to build a competitive team both on and off the field, and preserves our strategic plan for a return to the Super League in 2027," the club statement added.

"We extend our deepest gratitude to our creditors, fans and partners for their unwavering patience. Your continued support has been instrumental in securing the future of our club."

Salford are in the "last chance saloon" after their third court adjournment, a leading sports lawyer has said.

The club faces an uncertain future with their financial issues extending into the off-season.

The petition was initially served in June before being adjourned again in early September until earlier on Wednesday.

"I think Salford have been lucky," Richard Cramer told BBC Sport prior to the club's ownership claiming they had secured new funding.

"The strong indication, [and] the fact that this is last chance saloon, is that the courts have applied a very strict timetable going forward.

"So rather than listing the next available date, which would have been six to eight weeks away, the courts have applied a two-week extension and effectively by the middle of November it will be back in front of a judge at the winding-up court."

Fan protests increased as the season reached its conclusion and the club's perilous financial state showed no signs of subsiding.

The latest adjournment is merely "delaying the inevitable", a leading member of a fan group has said, and means their chances of getting back towards an even keel could be delayed.

"I'm disappointed," Nick Holt of The 1873, a fan group set up in response to the way the club has been run, told BBC Sport.

"I'm a long-time fan of the club, as many people are, and to get that adjournment decision today just delays one, the inevitable, and two, any form of a rebuild or planning for 2026.

"It would be a sad day for any business or sporting organisation to go into liquidation.

"It would be a bitter-sweet moment because we know the club as it stands right now has no real chance of servicing the level of debt it has."